SPY:
1. Daily Chart Analysis
2. Weekly Chart Analysis
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KDJ:
- %K: 74.62, %D: 81.80, %J: 60.26
- The KDJ indicators are in the overbought zone but starting to decline, suggesting the early stages of a potential pullback or consolidation.
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PPO:
- The PPO line is still above the Signal line, but the histogram shows signs of weakening bullish momentum.
- If the lines converge further, it could signal a deeper pullback on the weekly timeframe.
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Volume:
- Volume remains elevated, particularly on red candles, indicating profit-taking at higher levels.
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Summary:
- The weekly trend is still bullish but shows signs of exhaustion. A correction to the $560-$570 range would align with natural profit-taking and provide potential buying opportunities.
3. Monthly Chart Analysis
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KDJ:
- %K: 90.32, %D: 91.81, %J: 87.33
- The KDJ remains in the overbought territory (>80) but has started to flatten, suggesting waning bullish momentum. A divergence could form if the %J line continues to decline.
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PPO:
- The PPO line is well above the Signal line, confirming a strong long-term uptrend. However, the histogram is flattening, hinting at a potential loss of momentum.
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Volume:
- High monthly volume supports the bullish case, but declining momentum at $600 could lead to a pause or consolidation phase.
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Summary:
- The monthly chart remains bullish, with the $600 level acting as significant psychological resistance. A deeper correction may test $550-$560 as support.
Key Levels to Watch Across Timeframes
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Support Levels:
- Daily: $570 (short-term), $550 (strong support).
- Weekly: $560-$570.
- Monthly: $550.
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Resistance Levels:
- Daily: $590, $600 (key breakout level).
- Weekly: $600.
- Monthly: $600-$620 (long-term target).
Conclusion and Strategy
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Short-Term (Daily):
- Momentum is bearish. A pullback to $570 or a potential break below could offer better long-entry opportunities.
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Medium-Term (Weekly):
- The uptrend is intact but showing early signs of weakness. A dip to $560-$570 would be healthy within the larger uptrend.
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Long-Term (Monthly):
- SPY remains in a bullish structure. Corrections to $550-$560 could serve as a long-term accumulation opportunity.
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QQQ:
1. Daily Chart Analysis
2. Weekly Chart Analysis
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KDJ:
- %K: 72.27, %D: 79.36, %J: 58.08
- The KDJ lines remain in the overbought zone (>70), though the %J line has started declining, signaling potential exhaustion of bullish momentum. This could indicate the early stages of a pullback or a sideways movement.
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PPO:
- The PPO line is still above the Signal line, confirming a bullish trend on the weekly timeframe. However, the histogram is showing reduced bullish momentum, indicating that the uptrend is slowing down.
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Volume:
- Weekly volume remains steady but does not show significant spikes, suggesting neither strong buying nor aggressive selling at current levels.
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Summary:
- The weekly chart suggests a bullish trend with signs of slowing momentum. Key support lies in the $480–$490 zone, and resistance is around $510–$520. A pullback to support would still be within the context of the larger uptrend.
3. Monthly Chart Analysis
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KDJ:
- %K: 83.16, %D: 84.21, %J: 81.04
- All three lines are in the overbought zone (>80), indicating strong bullish momentum. However, they are beginning to flatten, which could indicate a potential slowdown in the long-term rally.
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PPO:
- The PPO line is significantly above the Signal line, confirming a strong bullish trend. The histogram remains positive but is showing signs of flattening, suggesting the rally could face resistance near $510–$520.
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Volume:
- Monthly volume remains robust, supporting the ongoing uptrend.
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Summary:
- The long-term trend remains bullish, but overbought conditions and flattening indicators hint at a possible pause or correction. Support lies around $470–$480, while $510–$520 remains the critical resistance zone.
Key Levels to Watch Across Timeframes
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Support Levels:
- Daily: $490 (short-term), $480 (strong support).
- Weekly: $480–$490.
- Monthly: $470–$480.
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Resistance Levels:
- Daily: $510.
- Weekly: $510–$520.
- Monthly: $520.
Conclusion and Strategy
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Short-Term (Daily):
- Momentum is turning bearish. Watch for a retest of $490 or even $480, which could provide an attractive entry point for a bounce.
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Medium-Term (Weekly):
- The uptrend is intact but losing steam. Consolidation or a pullback to $480–$490 would be a healthy development within the larger trend.
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Long-Term (Monthly):
- QQQ remains in a strong bullish structure. A correction to $470–$480 would provide an excellent long-term buying opportunity, while a breakout above $510–$520 could lead to further gains.